Menarini’s parent company Seri Industrial plans international expansion of bus business

Italian Seri Industrial group closed 2025 with €373 million in revenues and outlined international expansion plans for its Menarini brand, former Industria Italiana Autobus acquired by Seri Industrial in 2024.

The Board of Directors of Seri Industrial S.p.A. approved the financial results as of 31 December 2025, reporting a consolidated net profit of €13.629 million and an adjusted net profit of €15.359 million, up by €18.575 million compared with 2024.

International expansion central to Menarini development strategy

Within the Sustainable Mobility business line, subsidiary Menarini S.p.A. completed a recovery and relaunch plan during 2025, according to Seri Industrial. The company reported that the year marked the strongest financial performance in its recent history, following the implementation of supply chain reorganisation, production optimisation and organisational restructuring measures.

For 2026, Menarini is planning to expand its presence in international markets, with the objective of diversifying exposure beyond domestic demand. The company has also initiated new collaborations, particularly in the interurban transport segment, as part of its commercial development activities.

Menarini: product development supports entry into new markets

The international expansion strategy is supported by the ongoing development of a new vehicle range, including electric and compressed natural gas models. The product portfolio under development is designed to cover the full Class I segment, from 6 to 18 metres.

According to the company, homologation of 8- and 9-metre vehicles is expected in the coming months, while development activities continue for 10- and 12-metre models. Prototypes for 6- and 18-metre vehicles are scheduled by the end of 2026.

Back to Seri Industrial’s results, the group reported total revenues, other income and internal work capitalised of €372.970 million, representing a 24% increase year-on-year. Growth was primarily driven by the Sustainable Mobility business line and the Batteries segment, while Plastics remained stable.

Adjusted EBITDA reached €65.224 million, corresponding to a margin of 23.4%, compared with 18.8% in 2024. Adjusted operating profit amounted to €22.357 million, including €42.867 million in depreciation and amortisation linked in part to investments in Teverola 1 and Teverola 2.